This excerpt taken from the PNC 8-K filed Mar 10, 2008.
Federal securities laws require us to provide this notice to you as a director or executive officer of PNC.
If you participate in the Benefit Plans, you will be prohibited from performing transactions relating to the PNC Common Stock Fund under those plans during the Plan Blackout Period. During this period, you will further be prohibited from trading in PNC equity securities, outside of the context of the Benefit Plans, if those securities were acquired in connection with your service or employment as a director or executive officer of PNC. Finally, certain transactions are exempt from the prohibitions of both blackout periods please contact the PNC Corporate Secretary for further information or questions.
Any pending purchase or sale orders involving PNC securities that could be executed during a blackout period must be canceled before the beginning of the Quarterly Blackout Period, unless they are part of a written trading plan that has been cleared by the Corporate Ethics Office or are otherwise exempt transactions. Please refer to the PNC Employee Conduct Policies for further information regarding PNCs Personal Investment Transaction Rules and remember that you are prohibited from buying, selling or recommending securities while you are aware of material, non-public information about the security or its issuer. Once these blackout periods end, you are still subject to the normal rules requiring pre-clearance of PNC securities.